"This article deals with the traditional subject of resource allocation or project valuation under uncertainty, particularly with the valuation of managerial operating flexibility as corporate real options. Similar to options on financial securities, real options involve decisions or rights, with no obligation, to acquire or exchange an asset for a specified alternative price.The ability to value real options (e.g. to deffer, expand, contract, abandon, switch use or otherwise alter a capital investment)has brought a revolution to modern corporate resource allocation. The article provides new insight in valuing of project under uncertainty. First, real option and the basic types of real options are explained and compared with financial option. Than, the comparison of traditional passive approach for valuing projects and Real Option Analysis is made. At the end simple example is stated that compares the results of both approaches"@en . "0862-7908" . . "8-13" . . "0"^^ . "1"^^ . "ECON\u00B401" . "0"^^ . . "27510" . "661567" . . . "1"^^ . "This article deals with the traditional subject of resource allocation or project valuation under uncertainty, particularly with the valuation of managerial operating flexibility as corporate real options. Similar to options on financial securities, real options involve decisions or rights, with no obligation, to acquire or exchange an asset for a specified alternative price.The ability to value real options (e.g. to deffer, expand, contract, abandon, switch use or otherwise alter a capital investment)has brought a revolution to modern corporate resource allocation. The article provides new insight in valuing of project under uncertainty. First, real option and the basic types of real options are explained and compared with financial option. Than, the comparison of traditional passive approach for valuing projects and Real Option Analysis is made. At the end simple example is stated that compares the results of both approaches" . . "Real Option Analysis - a new approach for making decisions"@en . "Real option, net present value, underlying asset, exercise price, expiration"@en . "6"^^ . "Real Option Analysis - a new approach for making decisions"@en . "Real Option Analysis - a new approach for making decisions" . . . . . . "Z(MSM 275100015)" . . "[FCDB1E47D554]" . "1" . . "RIV/61989100:27510/02:00001977!RIV/2003/MSM/275103/N" . "Real Option Analysis - a new approach for making decisions" . . "CZ - \u010Cesk\u00E1 republika" . "RIV/61989100:27510/02:00001977" . . "8" . . . "\u010Cul\u00EDk, Miroslav" .